Structural reforms are key to achieving stronger, more inclusive and sustainable growth. Reforming the public sector together with transport infrastructures, skills and innovation policies would help raise growth and reduce regional inequality.

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The OECD’s latest Economic Survey of Portugal, published on Monday 27 October 2014, assesses the significant progress the country has made to rebound from the financial crisis and subsequent recession.

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Spain is emerging from a protracted recession, marked by a return to moderate growth and rising international competitiveness. Decisive banking and fiscal reforms, coupled with supportive monetary policy from the European Central Bank, have reduced financial tensions and improved public finance.

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Business dynamism has underpinned inclusive growth in the 2000s. Strong growth without widening external imbalances calls for structural reform in the business sector to boost productivity and allow firms to better compete in export markets and at home.

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Output growth of around 4% is projected in 2014-15. However, a new growth strategy is essential to foster a creative economy and sustain growth. Policies are also needed to reduce income inequality and poverty, particularly among the elderly.

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Korea needs to move away from its current economic model and implement a range of reforms to develop a creative economy that can sustain long-term growth, according to the latest OECD Economic Survey of Korea. The strategy should be accompanied by new measures to reduce income inequality and poverty, particularly among the elderly, the OECD said.

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Canada’s economic growth remains solid. However, the energy-sector boom has widened regional disparities and raised environmental challenges. House prices and household debt have increased to high levels. Skills shortages have emerged.